发布时间：2008.3

摘要

Countries covered: Asia

The Asia-Pacific Insurance Industry Report provides insightful analysis, market overview, industry structure and outlook of insurance industry in the region. Richly laden with quantitative analysis, the report provides the reader with a rudimentary preface to the Asia-Pacific insurance industry in Australia, China, India, Hong Kong, Singapore and other emerging markets of the region. A synopsized discussion also offers prelude to life and health reinsurance industry in Asia-Pacific. In addition, get a bird’s eye view on the Tsunami disaster of 2004 and its effect on the regional insurance markets. Get to know about various types of life and non-life insurance products in the regional markets, backed by statistical inference of key players in these markets. The closely summarized Asia-Pacific market report is designed to offer a broad, macro level picture of the trends & issues, challenges, market structure/basics, recent mergers & acquisitions, and strategic corporate developments witnessed by the industry in the region. The report also peeps into the recent past/ historical perspective of the region’s insurance markets and corporate developments within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. The report discusses several key and niche players within the region.

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目录及图表

1. Market Overview

Table 1: Asia-Pacific Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Billion for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 2: Asia-Pacific 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Insurance Markets for 2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 3: Asia-Pacific Recent Past, Current & Future Analysis for Insurance Industry by Leading Country/Region - South Korea, China, Taiwan, India, and Hong Kong Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 4: Asia-Pacific Recent Past, Current & Future Analysis for Life Insurance Industry by Leading Country/Region - South Korea, China, Taiwan, India, and Hong Kong Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 5: Asia-Pacific Recent Past, Current & Future Analysis for Non-Life Insurance Industry by Leading Country/Region - South Korea, China, Taiwan, India, and Hong Kong Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Asian Life Insurance Markets Exhibit Varied Characteristics

Mature and Well-Developed Markets - South Korea, Taiwan and Hong Kong

Under-Developed and Under-Insured Markets - China and India

Aging Population and Provision for Retirement - Growth Drivers

China and India - Emerging Powers in Asian Insurance Sector

Strong Economy Peps Up the Market

Table 6: Insurance Industry in Asia-Pacific (2005): Premium Income in US$ Billion, Per Capita Premium in US$, and Penetration of Insurance by Life and Non-Life Segments for Select Regions - Japan, South Korea, China, Taiwan, and India (includes corresponding Graph/Chart)

Table 7: Life Insurance Market in Asia-Pacific (2004-2007): Countries Ranked by Growth Rates - Vietnam, Peoples Republic of China, India, Thailand, Indonesia, Hong Kong, Malaysia, Philippines, South Korea, Taiwan, and Australia (includes corresponding Graph/Chart)

Flourishing Insurance BPO Business

2. P&C Insurance Market

Table 8: Non-Life Insurance Industry in Asia-Pacific (2005): Premium Income in US$ Million, Population in Millions, GDP in US$ Million, Per Capita Premium in US$, and Penetration of Insurance for Hong Kong, Indonesia, Malaysia, Philippines, Thailand, and Vietnam (includes corresponding Graph/Chart)

Table 9: Insurance Industry in Asia-Pacific (2003): Leading Countries by P&C Insurance Business (Direct Premium, Premium Per Capita, and Premium as % of GDP) (includes corresponding Graph/Chart)

3. Life and Health Reinsurance Market - Success Parameters

Changing Marketplace

Shift Towards Risk-Oriented Products

Reinsurance - A Tool to Transfer Risk

A Historic Review

4. Foreign Entrants - Pros and Cons

The Positives

Driving Factors for Asian Foray

Creating a Win-Win Situation

The Negatives

Regulatory Obstacles

A Risky Proposition

Political Risks

Exchange Rate Fluctuations

Natural Calamities

Cultural Differences

Under-Developed Distribution Networks

Undeterred Players

Asia-Pacific Life Insurance Industry (2004): Leading Foreign Companies in China, Hong Kong, India, Japan, Korea, Malaysia, Taiwan, Singapore and Thailand

5. War Risk Cover

War Risk Coverage Elusive for Some Asian Airlines

6. Outlook

Changing Environment Adds to Appeal

Rationale for High Growth Prospects in Asia

India and China Bring Immense Potential

Other Asian Markets Not Far Behind

Insurance Spend from Per Capita Income Far Below US-the Leader

7. The Tsunami Disaster

Insurance Protection in Tsunami Affected Areas

Property Insurance Coverage

Estimates of Insured Losses Due to the Tsunami

8. A Peek into the Recent Past Market Numbers

Table 10: Insurance Industry in Asia-Pacific (2000): Major Insuring Nations by Written Premium in US$ Billion (includes corresponding Graph/Chart)

Table 11: Insurance Industry in Asia-Pacific (2000): Key Nations for Life Insurance by Written Premium in US$ Billion (includes corresponding Graph/Chart)

Table 12: Insurance Industry in Asia-Pacific (2000): Key Nations for Non-Life Insurance by Written Premium in US$ Billion (includes corresponding Graph/Chart)

Table 13: Asian Non-Life Insurance Industry by Country and Comparison with Japan and the US: 2001(includes corresponding Graph/Chart)

AUSTRALIAN INSURANCE INDUSTRY

1. Industry Overview

Australian Insurance Industry - A Market Summary

Table 14: Australian Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2005 through 2010 (includes corresponding Graph/Chart)

Table 15: Australian 6 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2005, 2008, and 2010 (includes corresponding Graph/Chart)

Table 16: Australian Insurance Industry (2005): Per Capita Premium in US$ by Category - Life and Non-Life

Presence of Insurance Brokers in Australian Insurance Industry

Presence of Foreign Insurance Companies in Australian Insurance Industry

An Effective Distribution System

Key Changes in the Marketplace

Privatization

Creation of Managed Funds

Establishment of Managed Funds in Australia

ICA Introduces New Code for Policy Holders

Ascending Premium for Public Liability Insurance Overturns

2. Review of the Sectors

2a. Life Insurance

An Overview of Australian Life Insurance Industry

Table 17: Australian Life Insurance Industry (2006): Percentage Breakdown by Policy Type for Superannuation and Ordinary (includes corresponding Graph/Chart)

Table 18: Australian Life Insurance Industry (2004): Percentage Breakdown by Policy Type for Superannuation and Ordinary (includes corresponding Graph/Chart)

Australia to Regulate Life Insurance Companies Through New Standards

Competitive Landscape

Table 19: Leading Players in Australian Life Insurance Industry (2006): Percentage Market Share by Premiums of Major Companies - AMP, Colonial/CBA, ING/ANZ, National Aust / MLC, Westpac, and Others (includes corresponding Graph/Chart)

Table 20: Australian Life Insurance Industry (2006): New Business Premiums (Single and Regular) in $ Million for Select Companies - AMP, Aviva, Colonial/CBA, ING/ANZ, MetLife, National Aust/MLC, National Mutual/AXA, St Andrew's Life, Tower Life, Westpac, and Others (includes corresponding Graph/Chart)

Table 21: Australian Life Insurance Market (2004): Premiums Received, and Brokerage Income in A$ Million for Select Brokers - Associated Planners Financial Services Ltd, Charles McMillan & Associates Pty Ltd, Cuna Mutual Insurance Brokers Pty Ltd, G L Phillips & Company Pty Ltd, and Others (includes corresponding Graph/Chart)

Table 22: Australian Life Insurance Industry (2004): Gross Written Premium in A$ Million by Company/Group for AMP, National Aust/MLC, ING/ANZ, Colonial/CBA, Westpac National Mutual/AXA, Macquarie Life, Citicorp Life, Tower Life, and Zurich Life (includes corresponding Graph/Chart)

Table 23: Australian Life Insurance Industry (2004): New Business (Single & Regular) Premium in A$ Million by Leading Company/Group for Citicorp Life, Westpac, Colonial/CBA, ING/ANZ, National Aust/MLC, National Mutual/AXA, AMP, Aviva, Tower Life, AIG and Others (includes corresponding Graph/Chart)

Table 24: Australian Life Insurance Industry (2003): Gross Written Premium in US$ Billion by Leading Companies for AMP, MLC, ING, AXA, Westpac Life, and Colonial Mutual (includes corresponding Graph/Chart)

Table 25: Top-Five Players in the Australian Life Insurance Industry (2002) - Gross Written Premium in US$ Million for AMP, MLC, ING, AXA, and Westpac Life (includes corresponding Graph/Chart)

2b. Health Insurance

Australian Health Insurance Industry

Industry Highlights

Table 26: Australian Health Insurance Industry (2004): Percentage Market Share by Major Players - Australian Health Management Group Ltd, Australian Unity Health Ltd, BUPA Australia Health Pty Ltd, MBF Alliances Pty Ltd, Hospitals Contribution Fund of Australia, Medibank Private Ltd, and Others (includes corresponding Graph/Chart)

2c. General/Non-Life Insurance

APRA Introduces New Standards for General Insurance Sector

Public Insurance Companies of General Insurance

General Insurance Industry Witnesses Stability

Insurance Broking Business to Slow Down

Commercial General Insurance Market Segmentation

Property Insurance

Table 27: Australian General Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Sector - Domestic Motor Vehicle, Houseowners Insurance, CTP Motor Vehicle Insurance, Public and Product Liability Insurance, Fire and ISR Insurance, Commercial Motor Vehicle Insurance, Employers' Liability Insurance, Professional Indemnity Insurance, and Other Insurance (includes corresponding Graph/Chart)

General Insurance - A Recent Past Overview

Table 28: Australian General/Non-Life Insurance Market (2004): Premiums Received, and Brokerage Income in A$ Million for Select Brokers - Aon Risk Services Australia Ltd, Freeman McMurrick Pty Ltd, Heath Lambert Australia Pty Ltd, Insurance Advisernet Australia Pty Ltd, Jardine Lloyd Thompson Pty Ltd, and Others (includes corresponding Graph/Chart)

Competitive Landscape

Table 29: Leading Players in Australian Non-Life Insurance Industry (2004): Percentage Market Share by Company - Allianz, IAG, PMN, QBE, SUN, and Others (includes corresponding Graph/Chart)

Table 30: Australian Non-Life Insurance Industry (2003): Gross Written Premium in US$ Billion by Leading Companies for QBE Group, Insurance Australia Group, Promina Group, Suncorp, and Allianz Australia (includes corresponding Graph/Chart)

Table 31: Australian General/Non-Life Insurance Industry (2002): Percentage Share of Premium Received (In A$ Million) by Leading Private Sector Conglomerates (includes corresponding Graph/Chart)

2d. Reinsurance Industry

Importance of Catastrophe Reinsurance

3. A Past Perspective

Recession Gives Way to Recovery

Table 32: Insurance Industry in Australia (2000 & 2001): Number of Insurers by Type for Private Sector, and Public Sector (includes corresponding Graph/Chart)

Table 33: Insurance Industry in Australia (2000 & 2001): Premium Revenues in A$ Billion for Direct Insurers and Reinsurers

Performance of Major Business Classes in Australia

Table 34: Insurance Industry in Australia 2000): Percentage Share of Total Premium Revenue by Major Business Classes (includes corresponding Graph/Chart)

Table 35: Insurance Industry in Australia (2000): Premium Revenue (In A$ Million) and Percentage Breakdown of Leading Private Sector Insurance Conglomerates (includes corresponding Graph/Chart)

Table 36: Insurance Industry in Australia (2000): Premium Revenues in A$ Million by State/Territory and Insurance Category

Reinsurance Rate Journeys Southward

Table 37: Major Catastrophes in Australia (Losses in US$ Million) (includes corresponding Graph/Chart)

Table 38: Reinsurance Market in Australia (2000): Premium Revenue Ceded by Type in US$ Million (includes corresponding Graph/Chart)

Table 39: Australian Reinsurance Market (2001): Premium Revenue by Type of Business (includes corresponding Graph/Chart)

Corporate Restructuring

Major Corporate Restructures in Australian Private Sector

4. Product Launches

Bendigo Bank Introduces Health Insurance

Suncorp Launches Family Discount Scheme on Insurance Premiums

AAMI Launches Flexi-Premium Offer for Young Drivers and Customers

5. Recent Industry Activity

AMP Divests Gordian and Cobalt Insurance Wings for A$585 Million

Enstar Australia Acquires AMP’s Australian Insurance Operations

BUPA Australia and MBF in Merger Negotiations

APRA Issues License to MGIC

Calliden to Buy AU’s General Insurance Units

Suncorp to Sell Holding in Royal Automobile Club of Tasmania

Aviva Buys Stake in Infocus

Euler Hermes to Acquire Lumley General Insurance’s Credit Insurance Business

Genworth to Take Over Vero

Genworth Buys Out Vero Lenders

Allianz to Offer Life Insurance Products in Australia

Euler Hermes to Acquire Lumley’s Credit Insurance Division

IAG to Buy 30% Stake in AmAssurance Berhad

QBE To Acquire British Marine Holdings

Assetinsure Forays into General Aviation Insurance

Arthur J Gallagher Acquires FPE Insurance Brokers

Promina’s Vero forms Joint Venture with CTIL

Suncorp Metway Acquires AMP’S Stake in Joint Venture

OAMPS Insurance Brokers Acquire Policies of Harts One to One Insurance Solutions

AMP Signs Joint Venture with China Pacific Life Assurance

AMP Continues with its Restructuring Efforts

6. Focus on Select Australian Players

Allianz Australia Limited

AMP

CGU Insurance Limited

Gerling Australia Insurance Company Pty Ltd.

ING Australia Limited

Insurance Australia Group Ltd.

QBE Insurance Group

Suncorp Metway Insurance Ltd

Zurich Australia Insurance Limited

CHINESE INSURANCE INDUSTRY

1. Industry Overview

A ‘Giant’ Opportunity

Insurance Sector Representation

Table 40: Chinese Recent Past, Current & Future Analysis for Insurance Industry by Segment - Non-Life and Life Markets Independently Analyzed with Premiums in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 41: Chinese 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premiums for Non-Life and Life Markets for 2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 42: Chinese Insurance Industry (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life and Non-Life

Table 43: Chinese Insurance Industry (2006 & 2007): Percentage Breakdown of Investment Portfolio by Bonds, Deposits, Equities & Mutual Funds, and Others (includes corresponding Graph/Chart)

Table 44: Leading Players in Chinese Insurance Industry (2006): Percentage Market Share by Company - China Life, Ping An, PICC P & C, Pacific Insurance, and Others (includes corresponding Graph/Chart)

Table 45: Chinese Insurance Industry (2005): Number of Insurance Companies by Category - Life, Non-Life, and Reinsurers (includes corresponding Graph/Chart)

Table 46: Chinese Life Insurance Industry (2002-2004): Percentage Breakdown of Life Insurance Depth (Premium/GDP) (includes corresponding Graph/Chart)

Table 47: Chinese Life Insurance Industry (2002-2004): Life Insurance Density (Premium/Capita) in Rmb (includes corresponding Graph/Chart)

China Peps up the Lure for Foreign Insurers

Chinese Insurers Gear Up for Expanded Investment Avenues

Insurance Market Outlook in China

A Historic Perspective

2. Market Trends and Issues

A Promising Market

High Savings Rates Prop Growth

Cultural Barriers - A Hitch

Shanghai & Beijing: Insurance Hubs

Burgeoning Growth in Beijing’s Insurance Market

China-Funded Companies Dominate the Market

Rise in Foreign Insurers Energizes the Insurance Market

Hiked Competition Forces Premiums Down

The Wave of Reforms

Foreign Owned Insurers: Screening Out the Ceiling Effect

Leading Chinese Banks to Enter Domestic Insurance Sector

Deregulation of Insurance Industry Boosts Growth of P&C Insurance Sector

Chinese Export Credit Insurance Market Picking Up

IT Spend Set to Grow

Big Potential for Global Insurance Industry in China

China - Asia’s Leading Insurance Market

Table 48: Chinese Insurance Industry (2005-2010): Total Insurance IT Expenditure in US$ Billion For Life and Non-Life Insurance (includes corresponding Graph/Chart)

3. Market Segments

3a. Non-Life Insurance Market

Table 49: Chinese Non-Life Insurance Market (2005): Percentage Breakdown by Category - Auto, Property, Cargo, Liability, and Others (includes corresponding Graph/Chart)

Major Non-Life Insurance Companies Operating in China (As of 2006)

Table 50: Chinese Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for PICC, China Pacific Property, Ping An Property, Tian An, China United Property, Da Zhong, Hua Tai, Yong An Property, Sinosafe General, and Taiping Insurance (includes corresponding Graph/Chart)

Table 51: Chinese Non-Life Insurance Market (2001): Gross Written Premiums in US$ Million by Leading Companies for PICC, China Pacific, Ping An, Huatai, and Dazhong (includes corresponding Graph/Chart)

Travel Insurance Experiences Rapid Growth in Shanghai

Property & Casualty Insurance Market

Table 52: Chinese Recent Past, Current & Future Analysis for Property & Casualty (P&C) Insurance Market with Premiums in RMB Billion for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 53: Chinese Property & Casualty (P&C) Insurance Market (2007 & 2008): Percentage Breakdown of Premiums by Product Category - Motor Vehicle, Commercial Property, Liability, Cargo, Agriculture, and Others (includes corresponding Graph/Chart)

Table 54: Chinese Non-life Insurance Industry (2006 & 2007): Percentage Breakdown Distribution Channels for Intermediaries (Individual Agents, Insurance Agencies, Professional Agencies, Insurance Brokers), and Direct Distribution (includes corresponding Graph/Chart)

Table 55: Leading Players in Chinese Property & Casualty (P&C) Insurance Market (2006 & 2007): Percentage Market Share of Premiums by Company - PICC, China Pacific, Ping An P&C, China United Property, Dadi P&C, Tianan, Other Chinese Life Insurers, and Foreign Life Insurers (includes corresponding Graph/Chart)

General Insurance Market - A Past Perspective

Table 56: Top Players in the Chinese P&C Insurance Market (2003 & 2004): Percentage Value Breakdown of Premiums for PICC, China Pacific, Ping An and Others (includes corresponding Graph/Chart)

Table 57: Chinese Motor Insurance Market (2004): Percentage Market Share by Company - China Pacific, China United, PICC, Ping An, Tian An, and Others (includes corresponding Graph/Chart)

Table 58: Chinese Motor Insurance Market (2003): Percentage Value Breakdown of Premium by Company for PICC, China Pacific, Ping An and Others (includes corresponding Graph/Chart)

Table 59: Leading Players in the Chinese Commercial Property Insurance Market (2003): Percentage Value Breakdown of Premium by Company for PICC, China Pacific, Ping An and Others (includes corresponding Graph/Chart)

Table 60: Chinese Cargo Insurance Market (2003): Percentage Value Breakdown of Premium by Company - PICC, China Pacific, Ping An, Huatai and Others (includes corresponding Graph/Chart)

Table 61: Chinese Credit Insurance Market (2003): Percentage Value Breakdown of Premium by Company - Ping An, China United, Yong An, Tian An, Sinosafe and Others (includes corresponding Graph/Chart)

Table 62: Chinese Agricultural Insurance Market (2003): Percentage Value Breakdown of Premium by Company - PICC, China United and Others (includes corresponding Graph/Chart)

3b. Life Insurance Market

A Marked Tilt Towards Life

Table 63: Chinese Life Insurance Market (2007 & 2008): Percentage Breakdown of Premiums by Policy Type for Individual Life Insurance, Health Insurance, and Accident Insurance (includes corresponding Graph/Chart) Table 64: Chinese Life Insurance Industry: Life Insurance

Premiums In US$ Billion for 2000-2004 (includes corresponding Graph/Chart)

‘Individual’ Market

Table 65: China’s Life Insurance Premium (2000-2004): Percentage Share of Premium by Policy Type - Individual Life, Group Life, Accident and Health (includes corresponding Graph/Chart)

Table 66: Chinese Life Insurance Industry (2005): Percentage Breakdown of Premiums by Distribution Channel - Individual Sales, Insurer/Intermediaries, Insurance Brokers, Insurance Intermediaries, and Others (includes corresponding Graph/Chart)

Major Life Insurance Companies Operating in China (As of 2006)

Competition Hots Up

Table 67: Leading Players in Chinese Life Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Company - China Life Group, Ping An Insurance, China Pacific, New China Life, Taikang Life, Tai Ping Life, Minsheng Life, Sino Life, Other Local Life Insurers, and Foreign Life Insurers (includes corresponding Graph/Chart)

Life Insurance Market - A Past Perspective

Table 68: Leading Players in the Chinese Life Insurance Market (2004 & 2005): Percentage Breakdown by Value of Premium Written for - China Life, CLIC, China Pacific and Ping An (includes corresponding Graph/Chart)

Table 69: Chinese Life Insurance Industry (2003): Percentage Value Breakdown of Premiums by Product Type for China Life, Ping An, China Pacific, and Others (includes corresponding Graph/Chart)

Table 70: Chinese Life Insurance Industry (2003): Gross Written Premium in US$ Billion by Leading Companies for China Life, Ping An Life, China Pacific Life, New China Life, Taikang Life, Tai Ping Life, AIA (Shanghai), AIA (Guangzhou), ING Pacific, and Zong Hong (Shanghai) (includes corresponding Graph/Chart)

Table 71: Leading Players in Chinese Life Insurance Market (2002): Percentage Share Breakdown by Written Premiums for China Life, Ping An, China Pacific, New China Life, Taikang Life, AIA (AIG) and Others (includes corresponding Graph/Chart)

3c. Reinsurance Market

Reinsurance Industry in China

Emergence of Private Investors and Large Foreign Reinsurance Companies

Table 72: Chinese Recent Past, Current & Future Analysis for Reinsurance Industry with Premiums in US$ Billion for the Years 2005 through 2010 (includes corresponding Graph/Chart)

3d. Healthcare Insurance Market

Rising Per Capita Health Care Spending in China Spells Growth for Medical Insurance

4. A Provincial Perspective

Table 73: Chinese Insurance Market (2006): Percentage Breakdown of Life and Non-life Premiums by Province (includes corresponding Graph/Chart)

Table 74: Insurance Penetration Percentage for Select Chinese Cities for 2005 (includes corresponding Graph/Chart)

Table 75: China’s Top Ten Province/City (2003): Life Insurance Density (Premium/Person), Percentage Share of Life Insurance Depth (Premium/GDP) and No. of Domestic Foreign Insurers (includes corresponding Graph/Chart)

Table 76: Competitive Landscape Across the Top Provinces in China: 2003 (includes corresponding Graph/Chart)

5. Chinese Insurance Industry - A Backgrounder

Commercial Insurance Industry Takes Roots in 1978

Regulatory Mechanisms

Role of China Insurance Regulatory Commission (CIRC)

Restrictions on Foreign Ownership

Introduction of Compulsory Third Party Liability

Opening Up of China

Gradual Opening Up of the Market

China’s Admission into WTO Fuels the Growth of Insurance Sector

The Repercussions

International Reinsurance Companies Enter Chinese Reinsurance Market

6. Product Launch

Sino-US MetLife Introduces New Insurance Product

7. Recent Industry Activity

FIC Secures Chinese Regulatory Approval to Set Up an Insurance Subsidiary

China Reinsurance to Increase Stake in CLR

Ping Acquires Minority Share in Fortis

HSBC Insurance to Form a Joint Venture with NTL

Shanghai Dragon to Divest Interest in Dazhong Insurance

Union Life Insurance to Divest Stake

Allianz China to Expand Business

Morley to Form a Fund Management Joint Venture in China

Shin Kong Enters into Chinese Market

China Postal Group to Setup Insurance Firm

Lloyd's Starts Chinese Operations

CITIC Prudential Opens Branch in Tianjin

CIRC Grants Clearance for Dongbu Insurance’s Acquisition Proposal

China Life to Acquire 60% Stake in Zhongcheng

China Reinsurance to Increase Stake in China P&C Reinsurance

China Pacific Insurance to Buy Further 25% of China Pacific Life Insurance

Cheung Kong Purchases Minority Stake in Ming An

Insurance Australia to Buy Stake in China Pacific

AIA Receives Approval to Offer Group Insurance

ING Capital Alliances with BEA

Heng An Standard Life Opens Unit in Beijing

China Life to Buy Minority Stake in Huishang Bank

Tokyo Marine Acquires Stake in Chinese Tianan

Bangkok Bank Acquires 10% Stake in PICC Life

Allianz to Expand Business in China

Establishment of CPIC Insurance in China

Samsung Makes Footprints in Chinese Insurance Market

CCI Seeks Roadmap to Insurance Market in Chinese Mainland

Prudential Financial Eyes China

Chinese Auto Insurance Sector Gears up for a Big Bang Entry of SAIC

PICC Obtains CIRC’s Nod for Tri-Nation Partnership for Life Insurance

HSBC to Up Stake in Ping An Insurance

China Commences Operations of First Auto Insurance Company in Shanghai

Twelve New Branches From Huaan Insurance Company

Chinese Companies Foray Health Insurance Business

8. Strategic Corporate Developments in the Past

China Life Insurance and United Securities Enter into Insurance-Securities Agreement

Agricultural Bank of China Signs Agreement with China Pacific Insurance Group

Agricultural Bank of China Signs Agreement with New China Life Insurance

Sun Life-China Everbright JV Gets Government Nod

The Horton Group Signs Joint Venture with Wanxiang

John Hancock Life Insurance Forms Joint Venture with Tianan Insurance

Aegon Group Gains Approval for Joint Venture in }China

AMP Signs Joint Venture with China Pacific Life Assurance

GAB Robins Opens Representative Office in China

State Development Bank and Pacific Insurance Sign Agreement

9. Focus on Select Chinese Players

Bank of China Group Insurance Company Limited

China Life Insurance Co. Ltd.

China Pacific Property Insurance Co., Ltd.

China Pacific Life Insurance Co., Ltd

Ping'an Insurance Co.

PICC Property and Casualty Company Ltd.

INDIAN INSURANCE INDUSTRY

1. Market Overview

Table 77: Indian Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Premiums in US$ Million for the Years 2005 through 2012 (includes corresponding Graph/Chart).

Table 78: Indian 8 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premiums for Life and Non-Life Markets for 2005, 2008, and 2012 (includes corresponding Graph/Chart).

Table 79: Insurance Industry in India (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life and Non-Life

Indian Economy - A Goldmine For Foreign Insurance Companies

IRDA Act Shapes Up the Industry for Future

Indian Government Mulls Hike in Foreign Participation in

Insurance Sector

Insurance Bill to Merge General Insurance Companies

A Promising Market

Market Potential of India

Insurers Face Growing Global M&A Activity

Penetration of Life Insurance

Low Growth in the Past

High Premium Slows Penetration

Liberalization of the Indian Market

The Prelude

A Walk Unto the Free Market

Public Insurers Still Going Strong

Emergence of New Distribution Channels

Internet - A Potential Distribution Channel

Overview of Indian Insurance Market

Semi-Urban and Rural Areas - The High Growth Market Segments

Children’s Policies Offer Huge Growth Potential

Overview of Indian Life Insurance Market

Growth Drivers

Growth in Per Capita Income

Superior Penetration Levels

Variations in Product Mix

Long-term Financial Instruments

Competition and Player Strategies

Indian Life Insurance Industry to Soar to New Heights

Pension Segment Offers Huge Potential

Opportunities Aboard

Characteristics of the Indian Insurance Industry

Reforms Spawn New Entries

Middle Class: The Largest Contributor

Population

GDP Stats Focus Untapped Potential

Mid 90’s Perspective

LIC: The Biggest Market Taker

Non-Life Insurance Market - The GIC Fort

Insurance Regulatory and Development Act

Guidelines for Investment

2. Segmental Analysis

2a. Life Insurance

Tremendous Potential for Indian Life Insurance Sector

Private and Public Face off

Table 80: Indian Life Insurance Industry (2006): Premium Underwritten in INR Billion by Insurers - LIC, ICICI Prulife, Bajaj Allianz, HDFC Standard Life, Birla Sunlife, SBI Life, Tata AIG, Max New York, Kotak Mahindra, Aviva, ING Vysya, Reliance Life, MetLife, Sahara, Shriram Life

Table 81: Indian Life Insurance Industry (2004): Gross Written Premium in US$ Million by Leading Companies for LIC, ICICI Prudential, Birla Sunlife, HDFC Standard, Tata AIG, SBI Life, Allianz Bajaj, Max New York, OM Kotak, and ING Vysya

Table 82: Top-Five Players in the Indian Life Insurance Industry (2003) - Gross Written Premium in US$ Million for LIC, ICICI Prudential, Birla Sunlife, HDFC Standard, and Max New York

2b. Non-Life Insurance

IRDA Plans Free Price Regime for Non-Life Insurance Sector

Table 83: Indian General Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Product Category for Motor OD, Fire, PA & Health, Motor TP, Engineering, and Others (includes corresponding Graph/Chart)

Table 84: Indian Non-Life Insurance Industry (2006): Gross Direct Premium Income Underwritten in INR Billion by Non-Life Insurers - New India, Oriental, National, United, ICICI Lombard, Bajaj Allianz, IFFCO-TOKIO, Tata AIG, Royal Sundaram, Cholamandalam, HDFC Chubb, and Reliance (includes corresponding Graph/Chart)

Table 85: Indian P&C Market (2002-2003): Premium Written by Insurance Companies in INR Million

Health Insurance - Gaining Acceptance

Table 86: Indian Recent Past, Current & Future Analysis for Health Insurance Market by Premiums Written in US$ Million for the Years 2006 through 2012. (includes corresponding Graph/Chart)

Health Insurance Sector Faces Challenges

Microinsurance - Vast Untapped Market

3. Landscaping the Indian Insurance Industry

Private Insurance Companies Growing Considerably

Life Insurance

Non-Life Insurance

Leading Private Players

ICICI-Prudential

Bajaj Allianz

Birla Sun Life Insurance Raring to go

Sun Life’s Success Story

The Entrenched State Players

LIC - The Undisputed Leader

General Insurance Company (GIC)

Growing Participation of Overseas Players

Foreign Players Partnering with Indian Players in the Indian Insurance Sector

Performance of Multi-National Companies

Global Reinsurers Hold Back Feet

Opportunity for Global Reinsurers

Managing Reinsurance Needs

Hurdles All the Way

Basic Strategies for New Entrants

Challenges for Banks/NBFCs

Table 87: Leading Banks into Insurance Sector in India (2000): Banks Ranked by Net Worth in INR Billion (includes corresponding Graph/Chart)

Other Participants

Role of Cooperatives in the Insurance Sector

Agents/Brokers

Factors Contributing Towards Success of Insurers

Table 88: Key factors Determining Success of an Insurance Company in India (includes corresponding Graph/Chart)

Information Technology in the Indian Insurance Industry

Challenges for the Insurance Industry

Insurers’ Ad Spend Belie Expectations

Internet Sales Could Prove Difficult

Marketing Mix Set for a Change

Changing Distribution Trends

Effective Product Strategies - A Must

Pricing Trends

Factors Impacting Profitability and Competition

Outlook

4. Product Launches

LIC Introduces New Unit Linked Plans

Reliance Introduces New Life Insurance Service

ICICI Lombard Introduces Health Advantage Plus

SBI Life to Introduce New Insurance Policy

Max New York introduced SMART Invest Pension Scheme

PNB Introduces New Health Insurance Product

LIC Introduces Group Critical Illness Rider

LIC to Launch Health Insurance Plan

United India Insurance to Introduce 3 New Health Insurance Policies

Aviva Introduces Non-Unit Linked Investment Plan

SBI Life Introduces Pension Product

Aviva Introduces Systematic Individual Savings Plans

5. Recent Industry Activity

HSBC Ties-up with OBC and Canara Bank

Aviva Life Insurance’s Indian Joint Venture Ties Up with Apex Bank

Tata AIG Enters into Partnership with BISWA

Tata AIG Plans Major Expansion in Orissa

Cholamandalam MS Partners with IndusInd Bank

Bank of Maharashtra to Form Joint Venture for Non-life Insurance

Bank of India to Establish Joint Venture for Life Insurance

Andhra Bank to Form Joint Venture for Life Insurance

Apollo Hospitals Enters the Health Insurance Market

Future Generali Commences Insurance Business in India

ICICI Secures Approval for Divest Stake in Insurance Business

HDFC Divests General Insurance Stake to ERGO International

Vijaya Bank to Quit PNB-PFG Life Insurance Venture

QBE Enters into Agreement with Rajan Raheja Group

ICICI Prudential Life Teams Up with mChek

TTK to Commence Retail Health Insurance

ICICI and SCB to Form Alliance

Canara Bank, HSBC and Oriental Bank Teams Up to Float Life Insurance Venture

ICICI Lombard Introduces First Health Insurance Plan

Aviva Life Insurance Teams Up with IndusInd Bank

BoI, Dai-ichi and Union Bank Floats Joint Venture Company

Andhra Bank, BoB and Legal & General Group to Enter into JV

ICICI Prudential & Dignity Foundation Introduces ActivAge

Apollo Establishes New Company

Sompo Japan Acquires Stake in Universal Sompo

HDFC to Acquire Chubb’s Stake

Bank of Baroda to Form Life Insurance JV

ING Group to Partner with India Post

DLF and Prudential to Form Insurance JV in India

HSBC Enters into Joint Venture

Aviva Teams Up Induslnd Bank

Mastek to Buy Vector Insurance

Aegon Signs JV with Religare

Federal Bank, IDBI and Fortis in a JV for Life Business in India

Swiss Re to Acquire Stake in TKK Healthcare

Aviva Enters into Agreement with Centurion Bank of Punjab

IDBI, Federal Bank and Fortis Sign MoU to Establish a New Life Insurance Firm

Oriental Bank to Enter into Life Insurance Business Sector

Hinduja Group Signs MoU with European Insurer

Postal Life Insurance Under Postal Administration Cover

LIC’s Global Expansion Drives the Insurance Giant to Middle East

Principal Financial Group Buys Stake in Avani Insurance Services

LIC to Rope in Overseas Partners for Health Insurance

Gecis Partners with Liberata of UK

HDFC Chubb Ventures into Liability Insurance

LIC International Receives License for Operating in UAE

IDBI Plans to Enter Life Insurance Business

IL&FS Investsmart to Debut Insurance Broking

Crawford Sets Foot in India

ECGC To Introduce New Insurance Policy

6. Strategic Developments in the Past

United Guaranty Corp Acquires Stake in India Mortgage

Sun Insurance Acquires Stake in Genins India

Kotak Mahindra Finance Forms Joint Venture with Old Mutual

DCM Shriram Consolidated and Zurich Financial Services Group Sign MOU

India Alive Tours Appointed as an Agent for Tata-AIG General Insurance

Maruti Forms Partnership with Two Insurance Companies

Max New York Life and Escotel Mobile Form Alliance

Family Health Plan Forms an Alliance with Food Corp. of India

JK Insurance Services Forms Alliance with Birla Sun Life Insurance

IFFCO-Tokio Marine Forms Partnership with Shield Autoglass

Dabur CGU Life Insurance Acquires Insurance Corp. of Singapore

Aditya Birla Group Forms Joint Venture with Sun Life Financial Services

Jammu & Kashmir Bank Signs Joint Venture With Metlife

Royal Sundaram Alliance, Fiat Auto and Fisaf form Joint Venture

‘Escolife’ Commences Operations

Birla Sunlife Insurance and Citibank Partner on Insurance Products

Emedlife Health Services Inks Alliance With Oriental Insurance Corp

General Insurance Corp Forms a Strategic Alliance with Saudi Firms

HDFC Standard Life Forms Alliance with Cholamandalam

Tata AIG Life Insurance Forms Alliance with Amadeus for Product Show Casing

ICICI Prudential Forms Alliance with Indus Group

Tata AIG Enters into Agreement with Hong Kong & Shanghai Banking Corp.

Central Bank of India Signs Agreement with Life Insurance Corp.

State Bank of India and Cardif Acquire Life Insurance Licenses

Insurance Regulatory & Development Authority Approves Birla Sun Life Insurance to Launch its Operations

7. Focus on Select Indian Players

Bajaj Allianz General Insurance Co., India - Largest Private Non-Life Insurer in India.

General Insurance Corp.

ICICI Prudential Life Insurance Co. Ltd.

Life Insurance Corp. of India - Largest Life Insurer in India

ASIA-PACIFIC NICHE INSURANCE MARKETS

HONG KONG

1. Market Overview

Insurance Sector Representation

Table 89: Hong Kong Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2005 through 2009 (includes corresponding Graph/Chart)

Table 90: Hong Kong 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2005, 2007 and 2009 (includes corresponding Graph/Chart)

Table 91: Insurance Industry in Hong Kong (2006): Per Capita Premium in US$ and Premium as % of GDP by Category - Life and Non-Life

Industry Snapshots

Table 92: Hong Kong Insurance Industry (2000-2004): Insurance Penetration in % for Life and Non-Life Sectors (Premium/ GDP) (includes corresponding Graph/Chart)

Table 93: Hong Kong Insurance Industry (2000-2004): Life and Non-Life Insurance Density (Premium/POP) (In ‘000 HK$) (includes corresponding Graph/Chart)

A Leading Insurance Market in Asia-Pacific

Insurance Demand to Grow Strongly in Hong Kong

Market Penetration

Long Term Insurance Sector Growing Steadily

Sun Life Financial Completes the Acquisition of CMG Asia

CEPA Agreement Sparks Growth in Hong Kong Insurance Market

Multi-Channel Distribution Grows in Popularity

2. Market Segmentation

Accident and Health

Employees’ Compensation

Engineering

Liability

Marine

Motor

Property

3. Insurance Business in Hong Kong - The Prerequisites

Solvency Requirement

Authorization

Regulatory Climate

Functions and Powers of the Insurance Authority

Regulation of Intermediaries

4. Insurance Service Providers

Table 94: Hong Kong Insurance Industry (2004): Number of Insurance Service Providers by Type for General Insurance, Long Term Insurance, and Composite (includes corresponding Graph/Chart)

Strong Foothold of Foreign Insurers

Captive Insurance - Key Market Participant

5. Review of Key Sectors

5a. Life Insurance

Table 95: Hong Kong Life Insurance Industry (2006 & 2007): Percentage Breakdown of Gross Written Premiums by Policy Type for Non-linked Insurance and Linked Insurance

Table 96: Hong Kong Life Insurance Industry (2006 & 2007): Percentage Breakdown of Gross Written Premiums by Policy Type for Individual Life, Group Life, Retirement Scheme, and Annuity & other (includes corresponding Graph/Chart)

Life Insurance Industry - A Recent Past Perspective

Table 97: Hong Kong Life Insurance Industry (2000-2004): Individual Life Premium in $ Billion (includes corresponding Graph/Chart)

Market Players

Table 98: Hong Kong Life Insurance Industry (2004): Premium Revenue in US$ Billion and Percentage Value Breakdown of Leading Insurance Companies for AIA, HSBC Life, Manulife, Prudential, AXA, China Life, Winterthur Life, Hang Seng Life, Royal Skandia Life and BOC Group Life (includes corresponding Graph/Chart)

Table 99: Hong Kong Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for AIA (Bermuda), Manulife, HSBC Life, Prudential (UK), AXA China (Bermuda), Hang Seng Life, Winterthur Life, CMG Asia, Royal Skandia Life, and ING Life (includes corresponding Graph/Chart)

Table 100: Top-Five Players in the Life Insurance Industry of Hong Kong (2002) - Gross Written Premiums in US$ Million for AIA (Bermuda), Manulife (International), HSBC Life, AXA China (Bermuda), and Prudential (UK) (includes corresponding Graph/Chart)

5b. General/ Non-Life Insurance

Market Players: Non-Life

Table 101: Leading Players in Hong Kong General Insurance Market (2005): Percentage Breakdown by Company -ACE, American Home, Asia Insurance, AXA General, BOC Group Insurance, HSBC Insurance, Ming An, QBE HKSI, Wing Lung, Zurich Insurance, and Others (includes corresponding Graph/Chart)

Table 102: Hong Kong Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for BOC Group Insurance, American Home, Ming An, HSBC Insurance, Asia Insurance, QBE HKSI, Wing Lung, AXA General, Falcon Hong Kong, and CGU (includes corresponding Graph/Chart)

Table 103: Top-Five Players in the Non-Life Insurance Industry of Hong Kong (2002) - Gross Written Premium in US$ Million for Ming An, Bank of China Group, American Home, QBE HKSI, and HSBC Insurance (includes corresponding Graph/Chart)

6. A Historic Perspective

Recovery Amidst Economic Stagnancy

General Insurance Industry Stages Revival from Losses

Healthcare Insurance Quadruples

Life Insurance: The Dominant Sector

Table 104: Life and Non-Life Insurance as a Percentage of GDP in Hong Kong: 1994-2003 (includes corresponding Graph/Chart)

Impact of China’s Accession to WTO

7. Recent Industry Activity

Zurich to Set-Up New Business Unit in Asia-Pacific

Fortis to Acquire Pacific Century Insurance

MetLife to Acquire MetLife Fubon

BOC Hong Kong to Acquire Majority Shares of BOC Group

AXA Takes Over Two Insurers in Asia

Radian Insurance to Commence Operations in Hong Kong

8. Focus on Select Players

Bank of China Group Insurance Co. Ltd.

Ming An Insurance Co., Ltd.

The Prudential Assurance Co. Ltd.

SINGAPORE

1. Market Overview

Insurance Sector Representation

Table 105: Singapore Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2005 through 2010 (includes corresponding Graph/Chart)

Table 106: Singapore 6 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2005, 2008, and 2010 (includes corresponding Graph/Chart)

Table 107: Insurance Industry in Singapore (2006): Per Capita Premium in US$ and Premium as % of GDP by Category - Life and Non-Life

Singapore: Among the Most Prominent Reinsurance Centers

Steps in the Right Direction

Government’s Support Fuels Growth in Insurance Sector

Tax Incentive Scheme for Overseas Insurance Businesses

Tax Exemption Scheme for Offshore Marine Hull & Liability Insurance Business

Abolition of Withholding Taxes on Financial Guarantee Insurance Contracts

Scheme for Tax-Deductible Special Reserves

2. Regulatory Environment

Margin of Solvencies and The Prerequisites

The Monetary Authority of Singapore (MAS)

Powers of MAS

Regulations for Insurance Intermediaries

3. A Peek into the Market Figures

Table 108: Insurance Industry in Singapore (2005): Gross Premiums of Singapore Insurance Fund Business in SG$ Million by Category - Cargo, Fire, Health, Hull and Liability, Motor, Personal Accident, Workmen Compensation, and Miscellaneous (includes corresponding Graph/Chart)

Table 109: Insurance Industry in Singapore (2005): Gross Premiums of Offshore Insurance Fund Business for Direct Insurers, Reinsurers, and Captive Insurers in SG$ Million by Category - Cargo, Property, Hull & Liability, and Casualty & Others (includes corresponding Graph/Chart)

Table 110: Insurance Industry in Singapore (2005): Percentage Breakdown of Gross Premiums of Offshore Insurance Fund Business for Direct Insurers, Reinsurers, and Captive Insurers by Category - Cargo, Property, Hull & Liability, and Casualty & Others (includes corresponding Graph/Chart)

Table 111: Insurance Industry in Singapore (2001-2003): New Insurance Business in SG$ Million

Table 112: Insurance Industry in Singapore (2001-2003): Percentage Breakdown of Insurance Business

Table 113: Insurance Industry in Singapore (2001-2003): In-Force Insurance Business in SG$ Million

4. Segmental Perspective

4a. Life Insurance

Ageing Population to Drive Demand for Pension and Medical Insurance

Life Insurance Market - A Recent Past Perspective

Health Insurance - Growth of Healthcare Cost

Revision of the Medical Benefits

Market Leaders

Table 114: Life Insurance Industry of Singapore (2003): Gross Written Premium in US$ Million by Leading Companies for AIA, Great Eastern Life, Prudential, NTUC Income, AVIVA, OAC, John Hancock, AXA Life Singapore, Asia Life, and Manulife (includes corresponding Graph/Chart)

Table 115: Life Insurance Industry in Singapore (2002): Leading Players Ranked by Gross Written Premium in US$ Million for AIA, Great Eastern Life, Prudential, NTUC Income, and AVIVA (includes corresponding Graph/Chart)

4b. Non-Life/General Insurance

Table 116: Singapore General Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Product Category for Motor, Marine & Aviation, Fire, Personal Accident, Health, Workmen Compensation, and Miscellaneous Insurance (includes corresponding Graph/Chart)

Non-Life Insurance Market - A Recent Past Perspective

Market Leaders

Table 117: Non-Life Insurance Industry of Singapore (2003): Gross Written Premium in US$ Million by Leading Companies for NTUC Income, American Home, AVIVA, SAGI-Captive 2, AXA Singapore, India International, Mitsui Sumitomo AIA, China, and Asia (includes corresponding Graph/Chart)

Table 118: Property & Casualty Insurance Market in Singapore (2003): Percentage Breakdown of Direct Premium Received by Company for NTUC Income, American Home, Aviva, AXA Singapore, SAGI -Captive, India International, and Others (includes corresponding Graph/Chart)

Table 119: Top-Five Players in the Non-Life Insurance Industry of Singapore (2002) - Gross Written Premium in US$ Million for NTUC Income, American Home, Sagi-Captive, AXA Singapore, and China (includes corresponding Graph/Chart)

5. Recent Industry Activity

Millea Acquires Asia General

6. Focus on Select Key Players

American Home Assurance Company

Great Eastern Holdings Ltd.

NTUC Income

EMERGING INSURANCE MARKETS OF ASIA-PACIFIC

1. Bangladesh

Life Insurance Market

Table 120: Life Insurance Industry in Bangladesh (2003): Gross Written Premium in US$ Million by Leading Companies for American Life, National Life, Jiban Bima Corporation, Delta Life, Meghna Life, Sandhani Life, Fareast Islami Life, Homeland Life, Rupali Life, and Prageti Life (includes corresponding Graph/Chart)

Homeland Launches BADHU BIMA Scheme for Married Women

Non-Life Insurance Market

Table 121: Non-Life Insurance Industry in Bangladesh (2003): Gross Written Premium in US$ Million by Leading Companies for Sadharan Bima, Corporation, Pragati, Reliance, Green Delta, Prime, Peoples, Phoenix, Bangladesh General, Rupali, and Karnaphuli (includes corresponding Graph/Chart)

2. Indonesia

Market Overview

Insurance Sector Representation

Table 122: Indonesian Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2005 through 2009 (includes corresponding Graph/Chart)

Table 123: Indonesian 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2005, 2007, and 2009 (includes corresponding Graph/Chart)

Highlights

Insurance Market Regulations

Indonesian Auto Insurance Market

Lack of Awareness and Poverty Hit Indonesian Health Insurance Market

Entry of Foreign Players

Indonesia Calls for Piracy Insurance

Importance of Technical Reserves

Market Leaders

Life Insurance

Table 124: Indonesian Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for Bumiputera 1912, AIG Lippo Life, Jiwasraya, Manulife Indonesia, Prudential Life, Indolife Pensiontama, Jiwa Sequis Life, AIA, Indonesia, Panin Life, and Bringin Jiwa Sejahtera (includes corresponding Graph/Chart)

Non-Life Insurance

Indonesian General Insurance Sector - Set for Phenomenal Growth

Table 125: Indonesian Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for Tugu Pratama, Jasa Indonesia, Central Asia, Astra Buana, Sinar Mas, Wahana Tata, Allianz Utama, AIU Indonesia, Mitsui Sumitomo, and Dayin Mitra (includes corresponding Graph/Chart)

A Recent Past Perspective

Leading Insurance Companies

Table 126: Insurance Industry in Indonesia (2001): Number of Insurance Companies by Type of Insurance for Life Insurance, Loss-Insurance, Reinsurance and Others (includes corresponding Graph/Chart)

Loss Insurance and Re-insurance Market

Table 127: Key Statistics of Indonesian Loss-Insurance and Reinsurance Companies in Millions of Rupiahs: 1998-2000 (includes corresponding Graph/Chart)

Table 128: Leading Loss-Insurance Companies in Indonesia by Surplus Underwriting in Millions of Rupiahs: 2000 (includes corresponding Graph/Chart)

Table 129: Leading Loss-Insurance and Re-insurance Companies in Indonesia by Assets in Millions of Rupiahs: 2000 (includes corresponding Graph/Chart)

Table 130: Insurance Gross Premiums in Indonesia by Segment (in % Share): 2000 (includes corresponding Graph/Chart)

Structural Overview of Loss-Insurance Market

Focus on Select Indonesian Players

PT Asuransi Tokio Marine Indonesia

PT Panin Insurance

PT Tugu Pratama

3. Malaysia

Market Overview

Table 131: Malaysian Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life Insurance and General Insurance Markets Independently Analyzed with Premiums Written in RM Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 132: Malaysian 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premiums Written for Life Insurance and General Insurance Markets for 2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 133: Malaysian Recent Past & Current Analysis for Insurance Industry by Segment - Life and General Insurance Markets Independently Analyzed with Premium Income in RM Million for the Years 2004 through 2008 (includes corresponding Graph/Chart)

Table 134: Malaysian 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life Insurance and General Insurance Markets for 2004, 2006, and 2008 (includes corresponding Graph/Chart)

Table 135: Malaysian Recent Past & Current Analysis for Insurance Industry by Segment - Life and General Insurance Markets Independently Analyzed with Insurance Fund Assets in RM Million for the Years 2004 through 2008 (includes corresponding Graph/Chart)

Table 136: Malaysian 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Insurance Fund Assets for Life Insurance and General Insurance Markets for 2004, 2006, and 2008 (includes corresponding Graph/Chart)

Insurance - A Booming Industry

Policies and Measures Reinforce Insurance Sector

Central Bank to Deregulate Insurance Sector

Role of Banks in Promoting Insurance

Health Insurance Industry Set to Record High Growth

Medical and Health Insurance Pick up Growth

Tourism Industry Follow Suit

Life Insurance Industry

Table 137: Malaysian Life Insurance Industry (2006 & 2007): Percentage Breakdown of Premiums by Policy Type for Temporary, Whole Life, Investment Linked, Endowment, Annuity, and Others (includes corresponding Graph/Chart)

Table 138: Malaysian Life Insurance Industry (2007 & 2008): Percentage Breakdown of Benefit Payments by Category for Surrender, Maturity/Vesting, Medical, Cash Bonuses, Death and Disability, and Others (includes corresponding Graph/Chart)

Key Players

Table 139: Leading Players in the Malaysian Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Great Eastern, AIA, Prudential, ING, and MAA (includes corresponding Graph/Chart)

Non-Life Insurance Industry

Table 140: Malaysian General Insurance Market (2007 & 2008): Percentage Breakdown of Premiums by Category for Motor, Fire, MAT, P A, CAR & ENG, Medical, Liability, WC & EL, and Others (includes corresponding Graph/Chart)

Table 141: Malaysian Non-Life Insurance Market (2005): Percentage Breakdown of Premiums by Segment - Auto, Engineering, Fire, Liability, Marine, Medical & PA, and Miscellaneous (includes corresponding Graph/Chart)

Key Players - A Past Perspective

Table 142: Malaysian Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for Kurnia, Malaysia National, Allianze General, Malaysia Assurance Alliance, AMI, American Home, Uni. Asia General, Hong Leong, Oriental Capital, and AmAssurance (includes corresponding Graph/Chart)

Table 143: Leading Players in the Malaysian Non-Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Kurnia, MNI, Allianz General, MAA, and Uni.Asia General (includes corresponding Graph/Chart)

4. Mauritius

Life Insurance Industry

Table 144: Life Insurance Industry of Mauritius (2003): Gross Written Premium in US$ Million by Leading Companies for BAI, Sicom, Anglo Mauritius, LIC, Mauritius Union, Albatross, La Prudence, Island Life, Mauritian Eagle, and Sun (includes corresponding Graph/Chart)

Non-Life Insurance Industry

Table 145: Non-Life Insurance Industry of Mauritius (2003): Gross Written Premium in US$ Million by Leading Companies for Swan, Mauritian Eagle, Mauritius Union, Albatross, Sicom, La Prudence, Island Gen, Sun, New India, and Lamco (includes corresponding Graph/Chart)

5. Mongolia

A Recent Past Review of Mongolian Insurance Market

Table 146: Mongolian Insurance Market (2003 & 2004): Total Premiums in Million Togrog by Category - Liability Insurance, Property Insurance, and Personal Accident, Health and Other Insurance (includes corresponding Graph/Chart)

Table 147: Mongolian Liability Insurance Market (2003 & 2004): Total Premiums in Million Togrog by Segment - Driver's Liability, Driver's Liability of Public Transportation, Professional Liability, Aircraft Owner's & Possessor's Liability, and Others (includes corresponding Graph/Chart)

Table 148: Mongolian Property Insurance Market (2003 & 2004): Total Premiums in Million Togrog by Segment - Aircraft Hull Insurance, Electrical Equipment, Motor Vehicle, Property Casualty, and Others (includes corresponding Graph/Chart)

Table 149: Mongolian Personal Accident, Health & Allied Insurance Market (2003 & 2004): Total Premiums in Million Togrog by Segment - Disability, Horse Racing, Personal Accident, Travel, and Others (includes corresponding Graph/Chart)

Table 150: Mongolian Insurance Market (2003 & 2004): Claims Paid in Million Togrog by Category - Liability Insurance, Property Insurance, and Personal Accident, Health and Other Insurance (includes corresponding Graph/Chart)

Table 151: Mongolian Liability Insurance Market (2003 & 2004): Claims Paid in Million Togrog by Segment - Driver's Liability, Driver's Liability of Public Transportation, and Others (includes corresponding Graph/Chart)

Table 152: Mongolian Property Insurance Market (2003 & 2004): Claims Paid in Million Togrog by Segment - Electrical Equipment, Motor Vehicle, Property Casualty, Transport and Others (includes corresponding Graph/Chart)

Table 153: Mongolian Personal Accident, Health & Allied Insurance Market (2003 & 2004): Claims Paid in Million Togrog by Segment - Disability, Personal Accident, Travel, and Others

Major Players

Table 154: Leading Players in Mongolian Insurance Market (2003 & 2004): Percentage Breakdown by Total Premiums by Company - Ard Daatgal, Bodi Daatgal, Mongol Daatgal, Mongolian Insurance Group, Nomin Daatgal, and Others (includes corresponding Graph/Chart)

Table 155: Leading Players in Mongolian Insurance Market (2004): Percentage Breakdown by Claims Paid by Company - Bodi Daatgal, Erel Daatgal, Mongol Daatgal, Nomin Daatgal, Prime Daatgal, and Others (includes corresponding Graph/Chart)

6. New Zealand

Industry Overview

Table 156: Insurance Industry in New Zealand (2005): Per Capita Premium in US$ by Category - Life and Non-Life

Table 157: Insurance Industry in New Zealand (2003): Percentage Share Distribution of Insurance Companies by Region for Wellington, Auckland, Canterbury, Otago, and Other (includes corresponding Graph/Chart)

Finance Companies Enter Insurance Sector

Regulatory Framework

Life Insurance Sector

Key Players

Table 158: Life Insurance Industry in New Zealand (2002): Gross Written Premium in US$ Million by Leading Companies for Sovereign, AXA, AMP, Royal & SunAlliance, Tower, Fidelity, Westpac, BNZ, NPF, and NBNZ Life (includes corresponding Graph/Chart)

Table 159: Leading Players in the Life Insurance Industry of New Zealand (2000) - Gross Written Premium in US$ Million for Sovereign Group, AXA, AMP, Royal & SunAlliance, and Tower Health (includes corresponding Graph/Chart)

Non-Life Insurance Sector

Table 160: New Zealand Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for IAG New Zealand, Vero, Lumley General, AMI, American Home, Tower, ACE, Farmers Mutual, Allianz New Zealand, and Medical Insurance Society (includes corresponding Graph/Chart)

Table 161: Leading Players in the Non-Life Insurance Industry of New Zealand (2002) - Gross Written Premium in US$ Million for IAG New Zealand, Royal & Sun Alliance, NZI, Lumley General, and AMI (includes corresponding Graph/Chart)

7. Pakistan

Market Overview

Table 162: Pakistani Recent Past, Current & Future Analysis for Insurance Market with Gross Premiums in PKR Million for the Years 2005 through 2009 (includes corresponding Graph/Chart)

Removal of Entry Barriers

Life Insurance Industry

Entry of Overseas Life Insurers

Key Players

Table 163: Leading Players in the Pakistani Life Insurance Industry (2002) - Gross Written Premium in US$ Million for State Life, EFU Life, Commercial Union, ALICO, and Metropolitan Life (includes corresponding Graph/Chart)

Non-Life Insurance Industry

Table 164: Leading Players in the Pakistani Non-Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Adamjee, EFU, National, New Jubilee, and New Hampshire (includes corresponding Graph/Chart)

8. Philippines

Government Mulls Hike in Insurance Coverage

Life Insurance Market

Table 165: Leading Players in the Life Insurance Industry of Philippines (2000) - Gross Written Premium in US$ Million for Philam Life & Gen, Sun Life, Insular Life, Manulife, and Prumerica Life (includes corresponding Graph/Chart)

Non-Life Insurance Market

Table 166: Non-Life Insurance Industry of Philippines (2003): Gross Written Premium in US$ Million by Leading Companies for Malayan Insurance, Prudential Guarantee, Pioneer, BPI/MS, PHILAM Ins, UCPB Gen, Standard, Alliedbankers, Federal Phoenix, and Phil. Charter (includes corresponding Graph/Chart)

Table 167: Leading Players in the Non-Life Insurance Industry of Philippines (2000) - Gross Written Premium in US$ Million for Malayan Ins, Prudential Gtee, FGU Ins, PHILAM Ins, and Federal Phoenix (includes corresponding Graph/Chart)

9. South Korea

One of the Largest Insurance Markets Worldwide

Table 168: South Korean Recent Past, Current & Future Analysis for Insurance Industry by Segment - Non-Life and Life Markets Independently Analyzed with Premium Income in US$ Million for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 169: South Korean 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 170: South Korean Insurance Industry (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life and Non-Life

A Perspective of the Market

Ageing Population to Drive the South Korean Insurance Market

Increasing Premium Rates Attract Public Wrath

Measures to Sustain Financial Stability

Insurers’ Assets Exceeds 300 Trillion Won

Insurance Industry Eyes Advanced IT Systems

Chinese Market offer Greener Pastures for Korean Insurers

Non-Life and Life Insurance Companies Plan Cross-Selling of Insurance Products

Online Motor Insurance Rapidly Gaining Ground

Online Motor Insurance Premiums to Cross 100 Billion Won Mark

Renewal Rates Increase in Motor Insurance

Life Insurance Industry

Life Insurance to Debut in the Korean Stock Market

Korean Life Insurers Provide Strong Growth Potential

Korea - A Well Developed Market with a Lucrative Shift in Product Mix

Life Insurance Industry Undergoes Major Changes

Quasi-Insurers Enhance Penetration in Korean Life Insurance

Bancassurance Boosts Life Insurance Market But also Brews Rift Between Banks and Insurers

Bigwigs Lose Share

Foreign Life Insurance Firms Dominate

Table 171: Korean Life Insurance Market (2005): Percentage Breakdown of Premium by Type - Individual (Endowment, Pure Endowment, Term Insurance), and Group (includes corresponding Graph/Chart)

Key Players

Table 172: Leading Players in South Korean Life Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Company - Samsung Life, Kyobo Life, Korea Life, ING, AIG, and Others (includes corresponding Graph/Chart)

Table 173: Leading Players in South Korean Corporate Pension Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Company - Samsung Life, Samsung F&M, Kyobo Life, Korea Life, Mirae Asset Life, Other Life Insurers, and Other P&C Insurers (includes corresponding Graph/Chart)

Table 174: Leading Players in South Korean Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Samsung Life, Korea Life, Kyobo life, Allianz, and SK Life (includes corresponding Graph/Chart)

Non-Life Insurance Industry

Long-Term Insurance and Investment Profits Aid Non-Life Sector’s Growth

Table 175: Korean Non-Life Insurance Market (2005 & 2006): Percentage Breakdown of Direct Premiums by Category - Auto, Commercial, and Long-term (includes corresponding Graph/Chart)

Key Players

Table 176: Leading Players in Korean Non-Life Insurance Market (2005): Percentage Market Share by Insurer - Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung, and Others(includes corresponding Graph/Chart)

Table 177: Leading Players in Korean Non-Life (Long-Term) Insurance Market (2005): Percentage Market Share by Insurer - Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung, and Others(includes corresponding Graph/Chart)

Table 178: Leading Players in Korean Non-Life (Commercial) Insurance Market (2005): Percentage Market Share by Insurer - Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung, and Others (includes corresponding Graph/Chart)

Table 179: South Korean Non-Life Insurance Industry (2003): Gross Written Premium in US$ Billion by Leading Companies for Samsung, Hyundai, Dongbu, LG, Oriental, Seoul Guarantee, First, Shindongah, Ssangyong, and Daehan (includes corresponding Graph/Chart)

Table 180: Leading Players in South Korean Non-Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Samsung, Hyundai, Dongbu, LG, and Oriental (includes corresponding Graph/Chart)

Auto Insurance Market

Battle Heats up in Korean Online Motor Insurance Market

Table 181: Korean Automotive Insurance Market (2005): Direct Premiums and Claims Paid in Won Billion

Table 182: Leading Players in Korean Automotive Insurance Market (2005): Percentage Market Share by Insurer - Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung, and Others(includes corresponding Graph/Chart)

Korean Marine and Aviation Insurance - An Overview

Property Insurance Market

Table 183: Korean Non-Life Insurance Market (2005):

Percentage Breakdown of Premium by Distribution Channel

-Agents, Bancassurance, Brokers, Employees, Solicitors, and

Others (includes corresponding Graph/Chart)

A Recent Past Market Scenario

Auto Insurance Market

Duration of Medical Insurance Coverage

Insurance Fraud Costs Dear

Initiatives in Web-Based Insurance Services

Focus on Select South Korean Players

Kyobo Life Insurance Co., Ltd. - Leading Life Insurer in Korea.

Samsung Life Insurance

Shinhan Bank

10. Sri Lanka

Life Insurance Market

Table 184: Leading Players in the Sri Lankan Life Insurance Industry (2003) - Gross Written Premium in US$ Million for Sri Lanka, Ceylinco, Eagle, Union, and Janashakthi (includes corresponding Graph/Chart)

Non-Life Insurance Market

Table 185: Leading Players in the Sri Lankan Non-Life Insurance Industry (2003) - Gross Written Premium in US$ Million for Sri Lanka, Ceylinco, Janashakthi, Union, and Eagle (includes corresponding Graph/Chart)

11. Taiwan

Table 186: Taiwanese Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in NT$ Billion for the Years 2006 through 2010 (includes corresponding Graph/Chart)

Table 187: Taiwanese 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Markets for 2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 188: Taiwanese Insurance Industry (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life and Non-Life

Market Overview

Opportunity to Expand to Mainland China Sparks Insurance Industry Growth

Establishment of Appointed Actuary System to Boost Growth

Risk-Based Capital Mechanism Launched

Central Insurance Offers Abduction Insurance for Taiwanese Businessmen

Tokio Marine Merges with Newa Insurance Co., Offers Typhoon Insurance

Table 189: Taiwanese Insurance Industry (2005): Benefits Paid in NT$ Billion by Domestic Insurance Companies by Type -Annuity, Death, Disability, Dread Disease, Maturity, Medical, Surrender, Survivor Benefit, and Others (includes corresponding Graph/Chart)

Table 190: Taiwanese Insurance Industry (2005): Benefits Paid in NT$ Million by Foreign Insurance Companies by Type- Disability, Death, Dread Disease, Maturity, Medical, Surrender, Survivor Benefit, and Others (includes corresponding Graph/Chart)

Table 191: Taiwanese Insurance Industry (2005): Reinsurance Claims Paid in NT$ Million by Category - Life, Automobile, Fire, Fishing Vessel, Marine Cargo, Marine Hull, Personal Accident, and Miscellaneous (includes corresponding Graph/Chart)

Life Insurance Sector

Table 192: Taiwanese Life Insurance Market (2007 & 2008): Percentage Breakdown of Premiums by Category for Individual Life Insurance, Health Insurance, Accident Insurance, and Annuity Insurance (includes corresponding Graph/Chart)

Table 193: Taiwanese Life Insurance Industry (2006): Percentage Breakdown of Premiums by Type - Accident, Annuity, Health, Life, and Group Insurance (includes corresponding Graph/Chart)

Table 194: Taiwanese Life Insurance Industry (2005): Premium Income in NT$ Billion by Domestic and Foreign Companies by Sector - Accident, Annuity, Health, Life, and Group Insurance (includes corresponding Graph/Chart)

Table 195: Taiwanese Life Insurance Industry (2005): Premium Income in NT$ Billion by Domestic and Foreign Companies for Individual Life (Endowment, Pure Endowment, Insurance Against Death), and Individual Annuity (Deferred Annuity, Immediate Annuity) (includes corresponding Graph/Chart) Interest Rate Environment Restricts Growth of Life Insurance Products

Key Players

Table 196: Leading Players in Taiwanese Life Insurance Industry (2005): Percentage Market Share of Premiums by Company - Cathay Life, Chunghwa, Fubon Life, ING Life, Nan Shan Life, Shin Kong Life, and Others (includes corresponding Graph/Chart)

Table 197: Taiwanese Life Insurance Industry (2003): Gross Written Premium in US$ Billion by Leading Companies for Cathay Life, Nan Shan Life, Shin Kong Life, Chungwa Post, ING Life, Fubon Life, Mass Mutual Mercuries, Kuo Hua Life, AZPL, and China Life (includes corresponding Graph/Chart)

Table 198: Leading Players in the Taiwanese Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Cathay Life, Nan Shan Life, Shin Kong Life, ING Life, and Kuo Hua Life (includes corresponding Graph/Chart)

Non-Life Insurance Sector

General Insurance Sector Set to Witness Buoyant Times

Table 199: Taiwanese Non-life Insurance Market (2007 & 2008): Percentage Breakdown of Premium Income by Category for Automobile, Fire, Marine Cargo, Engineering, Marine Hull, Aviation, and Miscellaneous Casualty Insurance (includes corresponding Graph/Chart)

Table 200: Taiwanese Non-Life Insurance Industry (2006): Direct Written Premiums and Retained Premiums in NT$ Million by Sector - Auto, Aviation, Fire, Marine, and Other Property & Casualty

Table 201: Taiwanese Non-Life Insurance Industry (2006): Direct Written Premiums and Retained Premiums in NT$ Million by Domestic Companies, and Foreign Companies

Market Players - The Strategies

Market Leaders

Table 202: Leading Players in Taiwanese Non-Life Insurance Industry (2005 & 2006): Percentage Market Share of Premiums by Company - Cathay Century, Central, Chung Kuo, the First, Fubon, Mingtai, Shin Kong, South China, Tai Ping, Taian, Taiwan Fire, Tokio Marine Newa, and Others (includes corresponding Graph/Chart)

Table 203: Taiwanese Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for Fubon, Mingtai, Shin Kong, Union, Cathay Century, Central, Taian, Zurich, Chung Kuo, and Newa (includes corresponding Graph/Chart)

Table 204: Taiwanese Non-Life Insurance Industry (2003): Net Premium and Net Losses in NT$ Million for Domestic and Foreign Companies

Table 205: Leading Players in the Taiwanese Non-Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Fubon, Mingtai, Shin Kong, Central, and Cathay Century (includes corresponding Graph/Chart)

Assessing Earthquake Exposure - A Key Development During Early 2000s

12. Thailand

Market Overview

Insurance Sector Representation

Table 206: Thai Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in Billion Baht for the Years 2005 through 2010 (includes corresponding Graph/Chart)

Table 207: Thai 6 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Insurance Markets for 2005, 2008, and 2010 (includes corresponding Graph/Chart)

Thai Insurance Industry - Obstacles and Issues

Group Policies - Exhibiting Fantastic Growth

Low Return on Investments Cast Shadow on New Business

Table 208: Thai Insurance Industry (2005 & 2006): Benefits Paid in Million Baht by Category - Annuity, Accident & Disability, Death, Health, Maturity, Surrender, and Others (includes corresponding Graph/Chart)

Life Insurance Sector

Table 209: Thai Life Insurance Market (2007): Premiums in Billion Baht by Group & Individual Category - Main Policy, Health Rider, Accident Rider, Other Rider, and Personal Accident (includes corresponding Graph/Chart)

Major Players

Table 210: Leading Players in Thai Life Insurance Market (2006 & 2007): Percentage Breakdown of Direct Premiums by Company - A.I.A, Thai Life Insurance, Ayudhya Allianz C.P Life, Muang Thai Life, Siam Commercial New York, Bangkok Life, Ocean Life, and Others (Including Krungthai Axa Life, ING Life Limited, and Finansa Life Assurance) (includes corresponding Graph/Chart)

Table 211: Thai Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for AIA, Thai Life, Ayudhya Allianz C.P., Bangkok, Ocean, Muang Thai, Siam Commercial, Nationwide, Zurich National, and South East (includes corresponding Graph/Chart)

Table 212: Leading Players in the Thai Life Insurance Industry (2002) - Gross Written Premium in US$ Million for AIA, Thai Life, Ayudhya CMG, Bangkok, and Ocean (includes corresponding Graph/Chart)

Non-Life Insurance Sector

Table 213: Thai Non-life Insurance Market (2006 & 2007): Percentage Breakdown of Net Written Premiums by Line of Business - Automobile (Voluntary, & Compulsory), Fire, Marine & Transportation, and Miscellaneous* (includes corresponding Graph/Chart)

Table 214: Leading Players in Thai Non-Life Insurance Market (2006): Percentage Breakdown of Direct Premiums by Company - Viriyah Insurance, Sampanth Insurance, Bangkok Insurance, Synmunkong Insurance, The Safety Insurance, LMG Insurance, Thanachart Insurance, Liberty Insurance, Mittare Insurance, Dhipaya Insurance and Others (includes corresponding Graph/Chart)

Table 215: Thai Non-life Insurance Market (2006 & 2007): Percentage Breakdown of the Sum Insured in Billion Baht by Line of Business - Marine & Transportation, Industrial (All Risks), Personal Accident, Fire, Automobile, and Miscellaneous* (includes corresponding Graph/Chart)

Table 216: Thai Non-Life Insurance Industry (2003): Gross Written Premium in US$ Million by Leading Companies for Viriyah, Dhipaya, Bangkok, Sampanth, Deves, Synmunkong, The Safety, New Hampshire, Aviva, and Commercial (includes corresponding Graph/Chart)

Table 217: Leading Players in the Thai Non-Life Insurance Industry (2002) - Gross Written Premium in US$ Million for Viriyah, Dhipaya, Bangkok, Deves, and The Safety (includes corresponding Graph/Chart)

A Recent Past Market Scenario

Life Insurance in New Millennium

Non-Life Sector Lagging Behind

The Reforms

Investment Returns

Joint Ventures on the Rise

13. Vietnam

Market Overview

Insurance Sector Representation

Table 218: Vietnamese Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Annual Premium Income in US$ Million for the Years 2005 through 2009 (includes corresponding Graph/Chart)

Table 219: Vietnamese 5 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premium Income for Life and Non-Life Insurance Markets for 2005, 2007, and 2009 (includes corresponding Graph/Chart)

Table 220: Insurance Market in Vietnam: Premium in US$ Million and Premium/GDP for the Period 1997-2002 (includes corresponding Graph/Chart)

Industry Structure

Major Categories of Insurance

Life Insurance Sector Witnesses Decline

Insurance Business Suffers from Lack of Domestic Brokers

Stiff Competition Brewing

Players and the Potential

State Insurer Feels the Pinch

Leading Insurance Companies/Groups Active in Vietnam

Entry of Foreign Companies

Foreign Insurers Make Mark in Vietnamese Insurance Market

Foreign Insurers Increasingly Rely on Joint Ventures to Enter Vietnamese Market

Foreign Insurers Queue Up to Enter Vietnam Life Market

The Present and Future

The Obligatory Social Insurance

Life Insurance Market

Key Market Characteristics

Key Players

Table 221: Leading Players in the Life Insurance Industry of Vietnam (2004): Percentage Market Share by Company - AIA, Bao Minh CMg, BaoViet, Manulife, and Prudential (includes corresponding Graph/Chart)

Table 222: Leading Players in the Life Insurance Industry of Vietnam (2003): Percentage Share Breakdown by Premium for BaoViet, Prudential, and Manulife (includes corresponding Graph/Chart)

Table 223: Leading Players in the Life Insurance Industry of Vietnam (2001) - Gross Written Premium in US$ Million for Bao Viet, Prudential, Manulife, AIA, and Bao Minh CMG (includes corresponding Graph/Chart)

Non-Life Insurance Sector

Leading Players

Table 224: Leading Players in the Non-Life Insurance Industry of Vietnam (2004): Percentage Market Share by Company - Allianz, Bao Minh, BIDV-QBE, BaoViet, PJICO, PTI, PVI, Samsung-Vina, UIC, VIA, and Others (includes corresponding Graph/Chart)

Table 225: Leading Players in the Non-Life Insurance Industry of Vietnam (2003): Percentage Share Breakdown by Premium for BaoViet, BaoMinh, PJICO, PV Insurance, and Others (includes corresponding Graph/Chart)

Table 226: Leading Players in the Non-Life Insurance Industry of Vietnam (2001) - Gross Written Premium in US$ Million for Bao Viet, Bao Minh, PVIC, PJICO, and PTI (includes corresponding Graph/Chart) E

Vietnamese Insurance Industry - A Recent Past Perspective

Unfair Competition Moves

Senior Executives Get Training in International Practices

Focus on Select Vietnamese Players

Baominh-CMG

BaoViet (Vietnam Insurance Corp.)

14. Product Launches

Allianz Life Launches Capital Protected Plan II

SLFP Introduces Sachetized Insurance Packages

Jerneh Insurance Launches Management Corporation Strata Title Insurance Scheme

MITA and Kurnia Form Partnership for Providing New Insurance Scheme

Lloyd’s to Introduce Islamic Insurance Polices

15. Recent Industry Activity

AIG Forms Alliance with Seoul Guarantee

ERGO Acquires Stake in Daum Direct Auto Insurance

Kookmin Bank to Divest Interest in ING Life Insurance

HSBC Insurance to Acquire Stake in Hana’s Life Insurance Subsidiary

Hainan Airlines to Form Joint Venture with SKLI of Taiwan

PAC Partners with TIA Technology to Gain Greater Market Share in Malaysia

DRB-HICOM to Divest Interests in Insurance Businesses

AXA Enters into Strategic Partnership with Bao Minh Insurance

Bao Minh Insurance and Federal Insurance Enter into Agreement

Allied Bank to Increase Stake in New York Life Insurance

Aviva Obtains Regulatory Consent for Joint Venture in Taiwan

HSBC Establishes Life Insurance Company in Taiwan

AEGON & Taishin Enters into Joint Venture

Allianz to Take Over Commerce Assurance

Bumiputra to Divest Stake

Manila Electric to Acquire Insurance Firm

Allianz to Divest Stake in Hana Life Insurance

AXA to Acquire 75% Stake in Kyobo Auto

Allianz to Buy Remaining Stake in Allianz President

Aviva to Form JV with FFHC

ACE Enters Vietnam’s Non-Life Sector

Cardif, Seabank and Vietcombank to Form Joint Venture

Indonesian Govt to Divest Stake in Two Companies

Boustead Holdings to Buy 45% Stake in Royal & SunAlliance Insurance

Allied Bank and Lucio Tan Group to Buy NY Life Insurance

Qatar Company to Acquire Sampanh Insurance

AIG Buys Out Central Insurance

Prudential Secures License for Islamic Insurance

AXA Takes Over Two Insurers in Asia

HSBC and AIG Collaborate to Provide Joint Insurance in Indonesia

CIGNA to Buy Stake in Thai Charoen Insurance

QBE Buys Stake in Allianz

OCBC Bank (M) Bhd Partners with Pacific Insurance

ISM Enters into Collaborative Agreement with SAS

Malaysian Insurance Institute Launches MII e-Academy

Aviva Takes Over Stake in Eagle Insurance of Sri Lanka

Standard Chartered and Eagle Insurance Form Alliance

Insurance Australia Acquires Stake in Safety Insurance

Navakij Insurance to Acquire Ocean General’s Underwriting Portfolio

AIG Direct Marketing to Acquire Central Insurance

Nanshan Life to Foray in Vietnamese Insurance Market

Bangkok Bank Acquires 10% Stake in People Insurance of China Corporate

Hyundai Eyes the US Market

Mapfre Insular Insurance - A Philippino-Spanish Venture Takes Wings

UMRe Merges with National Re

Samsung Establishes Wholly Owned Subsidiary in China

Met Life Inc Divests Unit in Indonesia

Aon Acquires Remaining Stake in Aon Inchibrok

BaoViet and BaoMinh Join Hands

Millea Acquires Allianz President General

Aon Risk Acquires Wrightson Ltd

Finansa Public Acquires Nationwide Life Assurance

Promina’s Vero Forms Joint Venture with CTIL

16. Strategic Corporate Developments in Recent Past

PIC Acquires 95% Stake in Equitable PCI

Allianz Buys 49% Stake in JV with AGF Insurance

Manulife Financial Concludes an Acquisition Agreement with Chinfon Global

Sun Insurance Acquires Stake in Genins India

Bank of Philippine Islands Merges Insurance Subsidiaries

Crawford Opens Office in New Zealand

AIA Signs Contract with Asia Commercial Bank

Asia Commercial Bank and Prudential Vietnam Sign Cooperation Agreement

First Fire & Marine Insurance Signs Deal With Sunwards Industrial

BaoViet Signs Agreement with Vietnam Bank for Investment and Development

Dabur CGU Life Insurance Acquires Insurance Corp. of Singapore

Bank of Philippines Islands and Mitsui Marine and Fire Insurance Sign an MoU

OAMPS Insurance Brokers Acquire Policies of Harts One to One Insurance Solutions

GAB Robins Opens Representative Office in China

Aquila Forges Partnership with Macquarie Bank

Kub Tekstil Signs MOU with Kurnia Insurans